Originally marketed by Sotheby’s for $47.5 million in 2012, the Woodside estate dubbed “Woodhaven Manor,” which was built in 1988 and includes a 12,000-square-foot main home, a 1,200-square-foot carriage house and a 1,000-square-foot guest house on over 3 acres of land at 700 Kings Mountain Road, was listed for $28.888 million early last year.

Was looking at the median listing / median sales numbers on the realtor.com site. Surely these are not apples-apples and are measuring two different sets of houses. As in measuring listing and sales events for the same moving timeframe:

This is a tough one. Buyers at this price point would want to gut pretty much the entire thing and there are some floor plan quirks (the octagonal theme for example). Kings Mountain is not bad per say but is not the prime location for Woodside either.

Compare this to 231 Winding Way that sold for $22M. Slightly smaller total square footage but brand new, 2.8 acres, architecturally significant with excellent finishes and by a famous architect, and in A+ Woodside.

Even at $22M, no buyer would pick Kings Mountain over Winding. This one still has a ways to go before they get the price right.

Nobody wants to touch anything that would need work that would require going through Woodside planning, especially at this price point.

UPDATE: The list price for 700 Kings Mountain Road has just been reduced another $2 million and they’re now asking $19.8 million for the manor, or roughly 42 percent of the price at which it was being marketed back in 2012.